Valmet has acquired Körber Group’s Business Area Tissue, a business offering process technologies and related services for converting jumbo reels of tissue paper into final tissue products. The enterprise value of the acquisition is approximately EUR 380 million. The acquisition is estimated to be completed on November 2, 2023.
Jul 7, 2023
Valmet has entered into an agreement to acquire Körber Group’s Business Area Tissue, with the enterprise value of the acquisition being approximately EUR 380 million. Valmet estimates that the acquisition will bring sales, service and cost synergies worth EUR 8 million by the end of 2026. The acquired business will be integrated into Valmet’s paper business line as a separate business unit. In Valmet’s reporting, the process technology part of the business will be consolidated to the paper business line and the services part to the services business line. The acquisition is estimated to be completed at the earliest on November 2, 2023.
Körber’s Business Area Tissue offers process technologies and related services for converting the jumbo reels of tissue paper into final tissue products for consumers and the away from home segment. The business employs around 1,170 employees in Italy, Brazil, the U.S., China and Japan. By combining the complementary offering and competences of Valmet and the acquired business, Valmet creates the markets’ widest technology, automation and services offering for the growing tissue industry covering the entire tissue value chain. Mr. Pasi Laine, President and CEO of Valmet commented, “The combination of Valmet’s current tissue making technologies, services and automation offering and the acquired tissue converting offering and competences is a good strategic fit complementing each other and forms a strong basis to create new business opportunities and serve our customers even better. We are happy and proud to warmly welcome all the new colleagues from Körber’s Business Area Tissue to become part of Valmet.”